Brazil’s PMI index rises to 54.2 in May; best result in 8 months

Manufacturers of goods hired more workers in May in anticipation of sales growth. The increase was one of the highest in 16 years. The medium-term outlook is mostly positive, with nearly 71% of manufacturers expecting higher production levels over the next 12 months.

RIO DE JANEIRO, BRAZIL - Brazil's Purchasing Managers' Index (PMI) for industry rose to 54.2 points in May, up from 51.8 points in April, S&P Global reported Wednesday. The highest result in eight months - keeps the indicator above the neutral 50-point mark, which signals an expansion in the sector.

The PMI is one of the most reliable leading indicators for assessing the state of the economy.

According to Pollyanna de Lima, associate director of economics at S&P Global, the growth observed in May was due to an acceleration in the new orders, production . . .

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